Sunday, April 19, 2009

SPY/QQQQ

Earnings season marches on. We could be in for yet another volatile week.
A sample of the companies that report this week (4/20-4/24):
Monday: BAC, BSX, LLY, IBM, TXN
Tuesday: AMD, COF, CAT, COH, DD, KEY, MRK, STT, USB, YHOO
Wednesday: AAPL, EBAY, FCX, GSK, MCD, BA, WFC
Thursday: AMZN, AMGN, COP, JNPR, MAR, MSFT, POT, TMO
Friday: MMM, F, SLB

I will be tightening up real and mental stops on my long positions as we are approaching some key levels. We have been up for the past six weeks in a horrific looking bear market with the Q's up about 30% in that time frame.
A look at the pivotal points we are approaching on the SPY and QQQQ.

SPY
6 Month Chart

2 Month Chart - 30 min

10 Day Chart - 10 min

QQQQ
7 Month Chart

2 Month Chart - 30 Min

10 Day Chart - 10 Min

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